The Current Market Statistics for Marco Island, Florida Real Estate Sales as of September 1, 2014
The number of active HOME listings (262) on the market is down 18% from a year ago. That is a positive indicator for the home market. Likewise, the number of active CONDO listings (298) on the market is down 26% from a year ago- again a positive indicator for the condo market. The declining inventory directly impacts the absorption rate or the number of months it would take to sell everything available in a particular pocket of the market based on the number of sales that have occurred on a monthly break down. We currently have a 7 month supply of active homes to sell based on the number of sales this summer. We have an 8 month supply of active condos to sell based on the sales this summer. As the inventory declines so will the absorption rate which creates price appreciation. We are already experiencing price appreciation across the board.
The number of PENDING Home sales is up 6.5% from a year ago. The number of pending Condo sales is up 3.5% from a year ago. And the number of pending Lot sales is up 10% from a year ago. The market was active in August and we look forward to a good September and then accelerating into October.
37 Homes closed in August up 19% from a year ago. 10 lots closed in August up 25% from a year ago. The pocket of premier lots directly on the open water, big views continue to perform very well and inventory of these lots is very low.
All these positive market statistics are indicative of accelerating appreciating prices.
